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Special Report on

Satisficing vs Optimizing

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The objective of this short note is to provide a general, non-technical summary of what is amiss with Info-Gap decision theory. An extended discussion outlining in great detail the true nature of Info-Gap Decision Theory and its profound failings can be found at:     This discussion is intended to give analysts and decision-makers who have fallen for Info-Gap decision theory a "second opinion". It is directed to all those who have been lured -- perhaps unwittingly -- by Info-gap's rhetoric, which gives the false impression that this theory provides a sound scientific paradigm for robust decision-making ...
Rationing Health Care - The New Old Age Blog -
the co-founder of the Hastings Center, a caldron of research on bioethical issues, dissected the hot-button issue of rationing health care based on age as a way of preventing a total collapse of the Medicare system. Rationing could, arguably, improve the quality of life for America’s aged by leading us to think twice about invasive tests, cutting-edge surgery and other treatments that may extend life briefly but at a high cost, not only in health care dollars but also potential suffering for limited gain. I was struck not only by the volume of comments to Mr. Callahan’s essay but by how many readers wholeheartedly ... market research, surveys and trends
Three interesting ideas from Herbert Simon's “The Sciences of the ...
At one point this book probably would have blown my mind (in fact, that’s the reason I picked it up) – unfortunately, most of the individual content I’d seen so many times in so many other places that it failed to make much of an impression. There’s only so many times you can retread the familiar themes cognitive science, the computational mind, evolution, artificial intelligence, control theory, and rationality. I blame LessWrong . Despite this, Simon is still able to pull some fresh ideas from the well-worn territory.* 1) Inner vs. Outer Environments Simon states: We can view the matter quite ... market research, surveys and trends


Satisficing vs Optimizing
On this page I discuss issues that are connected to the long standing "Satisficing vs Optimizing" debate. For the benefit of readers who are not familiar with this debate I ought to point out that its main thesis is that satisficing has an advantage over optimizing. This discussion is related to my Info-Gap campaign. Table of contents I must admit that I find this debate tiresome. Nevertheless, I decided to join the fray so as to make the point that ... the debate is wasteful and counter-productive. After all, it is very easy to show that any "satisficing problem" can be formulated as an equivalent ... industry trends, business articles and survey research
Robust Decision-Making
seems to have an immediately familiar ring to it. Still, to be able to use it meaningfully in a discussion on robust decision-making it is necessary to be clear on the purport one ascribes it in the discussion. Consider then this definition from WIKIPEDIA : Robustness is the quality of being able to withstand stresses, pressures, or changes in procedure or circumstance. A system, organism or design may be said to be "robust" if it is capable of coping well with variations (sometimes unpredictable variations) in its operating environment with minimal damage, alteration or loss of functionality. Clearly, the main drift ... industry trends, business articles and survey research
Economics is Hard; the Bad Assumptions of Economists Makes it Harder
Before I start this evening, a small apology to my readers. Things have been busy around here; blogging has been well below what I would like to do. Worse, for some unexplainable reason, the hosting of my blog fell apart two days ago, and not for any change that I made. As it was, WordPress deemed my theme to be broken. So, I went in search of a new theme that would be compatible with what I used to have with Salattinet, and chose Green Apple. I am a little more than half through in modifying it. That said, I needed to make changes and had been delaying doing so. I have modified my blogroll to reflect who I regularly read. For ... market trends, news research and surveys resources


Systematic Experimentation with Deductive Learning: Satisficing vs ...
Satisficing vs. Optimizing search. Shaul Markovitch and Irit Rosdeutscher. Computer Science Department. Technion - Israel Institute of Technology ... technology research, surveys study and trend statistics
Satisficing Games and Decision Making
6.3 Satisficing games. 130. 6.4 Group preference. 133. 6.5 Optimizing versus satisficing. 139. 7. Congruency. 143. 7.1 Classical negotiation ... technology research, surveys study and trend statistics
Time Critical Decision Making
that compute the result. ◆ In what sense is optimal meta-reasoning a satisficing process? ◆ Myopic versus non-myopic optimization of ...
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Google Answers: Decision Making (Statistical subject)
Dear Cimi, Satisficing is a method for making a decision from a set of alternatives when one does not know much about the possibilities ahead of time. In such instances, there may be no way of obtaining a 'best' or optimal solution in order to stop searching for further alternatives. Satisficing takes the shortcut of setting an adjustable aspiration level which if attained, will be 'good enough' and then seeks a solution that will exceed these bounds. Satisficing is a form of bounded rationality. In today's complex world, not even the most powerful computers can process all the ...
Which level of management makes decisions about the activities ...